What it is:
A person is unbanked when he or she does not participate in the banking system and relies on the use ofrather than checks or cards.
How it works (Example):
Let's assume John Doe is poor and does not trust banks. He cannot afford the monthly fees of a checking account, so he uses savings account, and maybe a or credit card, but he chooses not to have those things. He is unbanked.and cashiers' checks from a convenience store to pay his bills. John Doe could operate more efficiently with a checking account, a